Mayor pushes for 10% affordable housing in huge Lakeview Village development in Mississauga
Published August 16, 2023 at 3:11 pm
A massive, lakefront development in Mississauga should have at least 10 per cent affordable housing, according to the mayor of Mississauga.
The development, known as Lakeview Village, west of Dixie Road, has been in the works for many years now. The group of developers or a consortium known as Lakeview Community Partners Limited plan to build over the next 15 to 20 years.
And the project expanded in May from 8,040 units approved in 2021 to 16,000 units after the developers asked the Ministry of Municipal Affairs and Housing for a Minister’s Zoning Order (MZO).
In light of that expansion, Mississauga Mayor Bonnie Crombie believes 10 per cent of the project should be affordable units.
“We do want a commitment from that consortium on Lakeview that they are going to provide 10 per cent affordable housing,” Crombie said in an interview with insauga.com publisher and founder Khaled Iwamura. “That’s pretty critical for the neighbourhood and for the community.”
When the project was approved back in 2021, at 8,040 units, there was a requirement for five per cent affordable housing. Now that it is a much larger development, Crombie feels there needs to be more affordable housing.
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“Providing affordable housing is key with any new development but, in particular, this one,” she said.
The province has asked the Lakeview developers for 10 per cent affordable housing and Crombie hopes they will provide even more.
“I think that is very attainable,” Crombie said.
She noted Premier Doug Ford is asking for 10 per cent affordable housing on projects on the Greenbelt.
Last year, Mississauga approved an inclusionary zoning policy, which requires larger scale developments with over 50 ownership units (or 3,600 square metres of residential area), to provide five to 10 per cent of the residential area set aside for affordable units.
Affordable housing is defined as accommodation costs which do not exceed 30 per cent of gross annual household income; or housing for which the purchase price is at least 10 per cent below the average purchase price of a resale unit in the regional market area.
The Harbourwalk Condos, a 19-storey, 863-suite buildings from Tridel, recently released pricing information.
The prices start at $660,000 for a 489 square-foot, one-bedroom in the “City Collection” and go up to $2,270,000 for a three-bedroom unit in the “Shoreline Collection.”